Illinois Municipal Retirement Fund (IMRF) is investing in US value-add real estate fund via a Crow Holdings Capital Partners-managed fund.

The pension said it has approved a $75m (€70.2m) commitment to Crow Holdings Realty Partners X, a fund seeking to raise $3bn.

The Crow Holdings fund, which mainly invests in industrial and multifamily assets, will also target some speciality property types like manufactured housing, convenience and gas station properties, student housing, self-storage and food/service retail assets.

IMRF said it also made a $35m commitment to EnCap Energy Capital Fund XII, a fund focused on investing in oil and gas production in the US.

The fundraising target for the EnCap fund is currently unknown.

EnCap raised $7bn in 2017 at the close of Fund XI, the previous fund in the series.

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